Canopy Growth (TSE:WEED) Trading Down 0.8% – Here’s Why

Canopy Growth Corp (TSE:WEED) traded down 0.8% during mid-day trading on Friday . The company traded as low as C$1.27 and last traded at C$1.28. 304,575 shares were traded during trading, a decline of 81% from the average daily volume of 1,644,805 shares. The stock had previously closed at C$1.29.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners dropped their price objective on Canopy Growth from C$1.80 to C$1.60 in a research note on Tuesday, June 16th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$1.88.

Canopy Growth Price Performance

The company has a debt-to-equity ratio of 40.27, a quick ratio of 2.32 and a current ratio of 3.04. The company’s 50 day moving average price is C$1.35 and its 200-day moving average price is C$1.42. The company has a market cap of C$575.10 million, a price-to-earnings ratio of -1.91, a PEG ratio of -0.01 and a beta of 1.63.

Canopy Growth (TSE:WEED) last issued its earnings results on Friday, August 7th. The company reported C($0.03) earnings per share for the quarter. The business had revenue of C$81.17 million for the quarter. Canopy Growth had a negative return on equity of 29.85% and a negative net margin of 73.95%. On average, equities research analysts forecast that Canopy Growth Corp will post -0.69 earnings per share for the current fiscal year.

Canopy Growth Company Profile

Canopy Growth Corporation, together with its subsidiaries, engages in growing, possession, and sale of medical cannabis in Canada. Its products include dried flowers, oils and concentrates, softgel capsules, and hemps. The company offers its products under the Tweed, Black Label, Spectrum Cannabis, DNA Genetics, Leafs By Snoop, CraftGrow, and Foria brand names. It also offers its products through Tweed Main Street, a single online platform that enables registered patients to purchase medicinal cannabis from various producers across various brands.